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    Gr11 Acc P2 (English) June 2019 Answer Book

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    alishachoonara0306

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    Gr11 Acc P2 (English) June 2019 Answer Book

    Uploaded by

    alishachoonara0306
    1 views9 pages

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    1 views9 pages

    Gr11 Acc P2 (English) June 2019 Answer Book

    Uploaded by

    alishachoonara0306

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 9

    testpapers.co.

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    GAUTENG DEPARTMENT OF EDUCATION


    PROVINCIAL EXAMINATION
    JUNE 2019
    GRADE 11

    ACCOUNTING
    PAPER 2

    ANSWER BOOK

    Name of school

    Name of learner

    Date

    Question Topic Possible Obtained Converted Moderated


    Marks Marks to % Marks
    1 Bank 40
    Reconciliation
    2 Creditors’ 40
    Reconciliation
    3 Fixed Assets 50

    4 Internal Control 20

    150

    9 pages

    P.T.O.
    ACCOUNTING PAPER 2 2
    ANSWER BOOK GRADE 11

    QUESTION 1: BANK RECONCILIATION Marks: 40 Time: 32 minutes

    1.1 Answer the following questions relating to Bank Reconciliation.

    1.1.1 Is it necessary for a relatively small business to prepare monthly


    Bank Reconciliations? Provide a reason for your answer. (3)

    YES / NO

    1.1.2 Explain the procedure that needs to be followed at the end of a


    financial period regarding a post-dated cheque issued. Which
    GAAP principle is applied?
    (3)

    P.T.O.
    ACCOUNTING PAPER 2 3
    ANSWER BOOK GRADE 11

    1.2.1 General Ledger of Disney World


    Bank B 10
    Date Details Amount Date Details Amount
    2019 2019
    Jun Jun

    23

    1.2.2 Bank Reconciliation Statement of Disney World on 30 June 2019

    Debit Credit

    11

    40

    P.T.O.
    ACCOUNTING PAPER 2 4
    ANSWER BOOK GRADE 11

    QUESTION 2: CREDITORS’ RECONCILIATION Marks: 40 Time: 33 minutes

    Creditors’ Ledger Stationery Galore

    Purple Pencils C3

    Date Details Fol Debit Credit Balance


    2019
    Apr

    15

    Creditor’s Reconciliation Statement of Purple Pencils on 30 April 2019

    Amount

    13

    P.T.O.
    ACCOUNTING PAPER 2 5
    ANSWER BOOK GRADE 11

    2.3.1 Briefly explain what I. Steale has done. State TWO separate points. (2)

    2.3.2 Explain THREE internal control measures that need to be introduced by


    Stationery Galore to avoid a recurrence of this. (6)

    2.3.3 Mention TWO actions Stationery Galore can take against I Steale, other
    than a disciplinary hearing. (4)

    12

    40

    P.T.O.
    ACCOUNTING PAPER 2 6
    ANSWER BOOK GRADE 11

    QUESTION 3: FIXED ASSETS Marks: 50 Time: 39 minutes

    3.1
    Calculation of depreciation

    Vehicles

    OLD

    NEW

    SOLD

    Total depreciation on vehicles for the year: 5

    EQUIPMENT
    OLD

    NEW

    General Ledger of Fruit City

    3.2.1 Vehicles B 7

    Date Details Amount Date Details Amount


    2018
    March 01

    P.T.O.
    ACCOUNTING PAPER 2 7
    ANSWER BOOK GRADE 11

    3.2.2 Asset Disposal N 26

    Date Details Amount Date Details Amount


    2018 2018
    Oct 01 Oct 01

    3.3
    Fruit City
    Notes to Financial Statements on 28 February 2019
    Land and Vehicles Equipment
    Fixed Assets Buildings
    Carrying value on 01 March 2018

    Cost
    Accumulated depreciation

    Movements

    Additions at cost
    Disposal at carrying value
    Depreciation for the year

    Carrying value on 28 February 2019

    Cost
    Accumulated depreciation

    25

    P.T.O.
    ACCOUNTING PAPER 2 8
    ANSWER BOOK GRADE 11

    3.4 What is the main purpose of the Fixed Assets Register in a business? (2)

    50

    QUESTION 4: INTERNAL CONTROL Marks: 20 Time: 16 minutes

    4.1 The business has changed its pricing policy.


    Is the statement true or false? Provide ONE reason for your answer. (3)
    TRUE / FALSE

    4.2 With reference to your answer to Question 4.1, motivate whether this
    was a good decision. (3)
    YES / NO

    4.3 Does the business have good control over its expenses? Give ONE
    reason for your answer. (3)
    YES / NO

    P.T.O.
    ACCOUNTING PAPER 2 9
    ANSWER BOOK GRADE 11

    4.4 The business has revised its debt collection policy in January 2019. Was
    this a good idea? Give ONE reason for your answer. (3)
    YES / NO

    4.5 The business is considering paying its creditors after the 30 days term
    agreed upon. Mention TWO factors that must be considered before this (4)
    happens.

    4.6 Comment on the stock holding period. Mention TWO points. (4)

    20

    END

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